Australia's Fenix Resources advances on new shipping partnership

Fenix Resources

Today 03:18

** Fenix Resources FEX.AX rallies 7% to A$0.2675, set for their sharpest single-day gain since June 15, if gains hold
** The miner seals a freight tie-up with vessel operator Mira Bulk to streamline shipping and drive down iron ore transport costs
** Under the deal, FEX is set to secure a profit-linked share in Fenix‑Mira Bulk, tied to the volume of its iron ore shipments
** FEX says the alliance has unlocked a $44 million long‑term funding line from ResInvest
** Stock has lost 44.9%, YTD 

(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))